Calix, Inc. (NYSE:CALX) Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Calix, Inc. (NYSE:CALX) by 4.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 277,116 shares of the communications equipment provider’s stock after selling 12,204 shares during the quarter. Principal Financial Group Inc. owned about 0.42% of Calix worth $10,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Hexagon Capital Partners LLC increased its holdings in shares of Calix by 29.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after buying an additional 318 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Calix by 187.9% in the 3rd quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 436 shares in the last quarter. Assetmark Inc. grew its position in Calix by 16.7% during the 3rd quarter. Assetmark Inc. now owns 3,381 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 485 shares in the last quarter. National Bank of Canada FI raised its stake in Calix by 0.4% during the 3rd quarter. National Bank of Canada FI now owns 142,187 shares of the communications equipment provider’s stock valued at $5,515,000 after purchasing an additional 520 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Calix by 42.1% in the third quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock worth $68,000 after buying an additional 522 shares during the period. Institutional investors own 98.14% of the company’s stock.

Analyst Upgrades and Downgrades

CALX has been the topic of several recent analyst reports. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a report on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Calix currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Calix Price Performance

Shares of NYSE:CALX opened at $34.95 on Monday. The stock has a market capitalization of $2.32 billion, a P/E ratio of -145.63 and a beta of 1.70. The business has a 50-day moving average of $34.36 and a two-hundred day moving average of $35.90. Calix, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $45.15.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The company had revenue of $200.95 million for the quarter, compared to analyst estimates of $201.06 million. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. As a group, research analysts expect that Calix, Inc. will post -0.34 EPS for the current fiscal year.

Calix Profile

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.